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11 Dec 2008 12:19
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FOR IMMEDIATE RELEASE 11Β DecemberΒ 2008
DIRECTORATEΒ CHANGE
Allied Irish Banks, p.l.c., ("AIB")Β [NYSE: AIB]Β announcesΒ theΒ followingΒ Non-ExecutiveΒ DirectorΒ changes:Β
The term ofΒ Mr. Mike Sullivan, Senior Independent Director,Β has been extendedΒ fromΒ 31 December 2008;Β he will retire from the Board at the Annual General Meeting on 29 April 2009.
Mr. David Pritchard has been appointed Senior Independent Director, to take effect on Mr. Sullivan's retirement from the BoardΒ on 29 April 2009.
Mr. Bernard Somers hasΒ indicatedΒ that he intends to resign from the Board on 31 December 2008, in order to avoid conflicts of interest arising between hisΒ fiduciaryΒ duty as a Director and his work as Principal of Somers & Associates, corporate restructuring consultants. The Board has accepted his resignation with regret.
Mr. Dermot Gleeson, Chairman of the Board, in thanking Mr. Somers for his contribution to AIB, said:Β
"Bernard Somers has made a major contribution to AIB over the past three years. We are sorry to lose his expertise, but we fully understand that, because of the current economic climate, the demands on his own corporate restructuring consultancy business are high. We also understand thatΒ his continuation on the Board wouldΒ haveΒ precludedΒ him from developing that business, having regard to the potential for conflicts of interest to arise. WeΒ thank him for his contribution,Β and weΒ wish him wellΒ for the future."Β
Ends
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